Nirmala Sitharaman Inspires Young Entrepreneurs

Union Finance Minister Nirmala Sitharaman addressed the Special Plenary Session of the YiFi Entrepreneurship Summit 2026 in Madurai, celebrating the city's rich entrepreneurial legacy while outlining India's emergence as a global innovation and technology powerhouse.

Madurai's entrepreneurial spirit is rooted in over 2,500 years of recorded history.

Known as 'Thoonga Nagaram' (the city that never sleeps) and 'Koodal Nagaram' (the place where ideas converge), it has long been a cradle of learning, commerce and innovation, nurturing the Tamil… pic.twitter.com/LwVnhtIKQJ

— Nirmala Sitharaman Office (@nsitharamanoffc) July 18, 2026

Speaking at the summit, Sitharaman described Madurai as a city with more than 2,500 years of recorded history, known as "Thoonga Nagaram" (the city that never sleeps) and "Koodal Nagaram" (the place where ideas converge). She said the city has long been a centre of learning, commerce and innovation, with ancient merchant guilds establishing trade links across Southeast Asia, Arabia and the Mediterranean.

India is today the fastest-growing major economy in the world. We are projected to contribute nearly 1/6th of the global growth over the coming years.

We have the largest pool of the youngest workforce anywhere in the world. More than 2.4 lakh DPIIT-recognised startups have… pic.twitter.com/rEXvSMY7jc

— Nirmala Sitharaman Office (@nsitharamanoffc) July 18, 2026

Highlighting India's economic progress, the Finance Minister said the country is currently the fastest-growing major economy in the world and is projected to contribute nearly one-sixth of global economic growth in the coming years. She also noted that India possesses one of the world's youngest workforces, creating immense opportunities for innovation-led growth.

We have over 2,100 Global Capability Centres (GCCs), which have moved beyond the metro cities. Our digital public infrastructure has become an international benchmark. UPI is processing more than 20 billion transactions every month.

New opportunities are coming for ambitious &… https://t.co/ZoU8wHAsC2

— Nirmala Sitharaman Office (@nsitharamanoffc) July 18, 2026

Sitharaman said India's startup ecosystem has grown rapidly, with more than 2.4 lakh DPIIT-recognised startups generating over 23 lakh direct jobs, making it the third-largest startup ecosystem globally.

Today's generation is better equipped than ever before to innovate, build and succeed. With easy access to information, resources, technology and world-class infrastructure, many of the barriers that entrepreneurs faced a few decades ago have been removed.

I urge young… pic.twitter.com/Fvi4OC1jun

— Nirmala Sitharaman Office (@nsitharamanoffc) July 18, 2026

The Finance Minister also underlined India's growing technological capabilities, citing achievements such as participation in the ITER nuclear fusion programme, research missions in the Arctic and Antarctic, and becoming the first nation to successfully land near the Moon's South Pole.

Under the leadership of Hon'ble PM Shri @narendramodi, the role of the Government has been redefined from being a controller of enterprise to becoming an enabler of enterprise.

Through formalisation, digitisation, regulatory reforms, GST and investments in infrastructure and… pic.twitter.com/6Gx0pTEpNQ

— Nirmala Sitharaman Office (@nsitharamanoffc) July 18, 2026

Emphasising India's digital transformation, she said the country now has over 2,100 Global Capability Centres (GCCs) expanding beyond metropolitan cities, while UPI processes more than 20 billion transactions every month, making India's Digital Public Infrastructure a global benchmark.

Sitharaman credited the leadership of Prime Minister Narendra Modi for transforming the government's role from a regulator to an enabler of enterprise through reforms such as GST, digitisation, formalisation, regulatory reforms, and major infrastructure investments.

Calling on young innovators to seize emerging opportunities across sunrise sectors, she urged entrepreneurs to embrace technology, innovation and responsible business practices.

"Young entrepreneurs must build boldly, build responsibly, build for India, build for the world and above all, build for generations yet to come," the Finance Minister said.
She concluded by stating that India's era of self-doubt is over, and that talent, innovation and technology will define the country's next phase of economic growth and global leadership.